Nothing has changed. Credit used to be DOPE. Now credit is tight, and will get tighter as banks continue to detoxify their balance sheets and raise cash to meet regulatory requirements. Also, jobs, jobs, jobs, jobs. Until you see unemployment numbers not rise in the U.S., you're fighting the biggest risk of all. When you see Nissan and Toyota (Lexus) laying workers off or buying them out, wow. These rallies are great opportunities to unload. *However, you can count on support, at least, and maybe some hot action in equities and sectors that were previously crushed by high oil prices, such as refineries, chemical co's, etc.